19 August 2013
The market for crude oil tankers hasn’t been particularly upbeat in the first half of the year. Product tankers however have delivered very decent returns if judged by their performance during the last 7 months.
10 October 2013
Demand: The dynamic nature of the product tanker market, where refinery locations, local market demand specifications and price arbitrage trades are constant moving objects, turn one main trade into a minor trade within a New York minute.
13 June 2013
Crude oil tankers in the mixed zone, whereas product tankers are feeling the first rays of sun between the clouds
13 February 2013
”The smaller the better” seems to be the mantra in the tanker segment these days. Whilst all crude tanker segments enjoyed a spike in earnings in late December, the subsequent drop hit the VLCC much harder than the Aframax segment.
11 April 2013
The tanker market is doing full steam ahead – not in relation to demand, earnings or actual operating speed, but in relation to structural demand changes in the West.
11 December 2013
The freight market for VLCCs was surprisingly strong in November, building on top of a rally starting back in September from very sluggish levels. There is a significant influence from seasonality behind this as Asia, and the northern hemisphere in general, prepare for Winter.
12 August 2010
Demand: EIA has revised their oil demand forecast upwards for 2011. Global oil demand in 2011 is now expected to rise by 1.3 million barrels per day (MB/day) to 87.8 MB/day assuming consensus trends in the global economy, crude prices development and possible efficiency gains. Growth will be driven entirely by non-OECD countries (+3.8% or +1.6 MB/day), while the OECD sees resumed decline (-0.5% or -0.2 MB/day). The outlook for 2010 remains unchanged at 86.5 MB/day (+2.1% or +1.8 MB/day versus 2009).
29 September 2010
The shift in oil demand is causing shorter sailing distances, so in order to maintain the fundamental balance with the present fleet in the tanker markets, the oil demand has to grow twice as much in the East as the oil demand shrinks in the West.
12 October 2010
The upcoming winter season could be a very welcome time-out from sub-USD 10,000 per day markets for both crude and product tanker markets. BIMCO forecast that freight rates for VLCC will firm as the winter season
09 December 2010
Crude oil has been trading in the USD 70-90 per barrel band for almost a year now. Oil prices crossed the USD 90 per barrel threshold in May